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Deep Dives

Deep Dives
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McGlinchey is pleased to present “Deep Dive” sessions into all things consumer finance. Each series will last 2-3 months, delivering content laser-focused on a certain regulation or topic at the top of your mind, delivered by attorneys across our various teams and spanning our geographic footprint.

From articles and podcast episodes to webinars and client-only, live Q&A sessions, this digestible material will be delivered directly to your inbox, geared towards your busy schedule, and drilled down right to the good stuff. Check out each series below.

Click here to sign up, so you don’t miss an issue.

Fair Credit Reporting Act

The Fair Credit Reporting Act (FCRA) impacts every aspect of a U.S. consumer’s life. Consumer reports are obtained by lenders, employers, landlords, and even utility companies, impacting the cost of credit and everyday services, as well as the ability to obtain employment or access housing. It is the subject of regular litigation as well as regulatory enforcement action and thus deserves particular attention. If your business currently obtains consumer reports or plans to obtain consumer reports as part of a new venture, how does the FCRA impact your business and what should you be thinking about?

Introduction  |  April 21, 2021
Fair Credit Reporting Act: Policy Check In – Permissible Purpose  |  May 6, 2021
When is it a Firm Offer of Credit?  |  June 17, 2021

Bank Secrecy Act

The Bank Secrecy Act (BSA) is the United States’ most important anti-money laundering (AML) regulation that requires banks, money services businesses, FinTechs, and other financial institutions to assist U.S. government agencies to detect and prevent money laundering. To achieve compliance with BSA/AML, financial institutions must navigate a range of regulatory requirements which focus on reporting, liaising with authorities, and building internal anti-money laundering controls. That process involves important considerations that this series will address, such as:

  • The scope of BSA and whom it applies to
  • Drafting sound BSA/AML policies and procedures
  • BSA, Customer Identification Program (CIP), and Office of Foreign Assets Control (OFAC) for “loan or finance companies”
  • Suspicious Activity Reports (SARs) for marijuana-related businesses

Introduction  |  September 2, 2021
Podcast: BSA, OFAC, KYC, and CIP – What do they mean to me?  |  September 15, 2021
Webinar: 5 Pillars of BSA Policies and Procedures  |  September 16, 2021

Insights

Deep Dive into Consumer Finance

Podcast: BSA, OFAC, KYC, and CIP – What do they mean to me?

September 15, 2021

The Bank Secrecy Act and parts of the U.S. Patriot Act's OFAC requirements have seemingly similar goals: to prevent money laundering and the funding of terrorist activities. Yet a lively debate surrounds which entities are covered by these acts, what the acts stipulate, and what entities must do to comply with them.

Event

Webinar: 5 Pillars of BSA Policies and Procedures

September 16, 2021

The next installment in McGlinchey’s Deep Dive Series covering all things Bank Secrecy Act is a webinar featuring attorneys from McGlinchey’s Financial Institutions Compliance team as well as CAMS certified managers from Crowe LLP.

Deep Dive into Consumer Finance

Introduction: A Deep Dive into the Bank Secrecy Act

September 2, 2021

The Bank Secrecy Act (BSA) is the United States' most important anti-money laundering (AML) regulation that requires banks, money services businesses, FinTechs, and other financial institutions to assist U.S. government agencies to detect and prevent money laundering.

Deep Dive into Consumer Finance

When is it a Firm Offer of Credit?

June 17, 2021

Creditors often ask when the Fair Credit Reporting Act’s (FCRA) rules relating to firm offers of credit apply. Do they apply when the creditor makes a prequalified offer? Does that change if the creditor makes a prescreened or preapproved offer? What is the difference between these terms?! The answer comes down to two words – permissible purpose.

Event

Webinar: How Can the FCRA Impact Your Business?

May 20, 2021

The next installment in McGlinchey’s 14-week series covering all things Fair Credit Reporting Act is a webinar featuring attorneys from McGlinchey’s Labor and Employment and Consumer Financial Services Compliance and Litigation teams.

Deep Dive into Consumer Finance

Fair Credit Reporting Act: Policy Check In – Permissible Purpose

May 6, 2021

The FCRA governs actions of CRAs, users of consumer reports, and the parties that furnish information to the CRAs. A comprehensive FCRA Policy should be tailored to your entity and reflect how it will actually obtain, use, and share consumer reports, in enough detail to match the complexity of your operations.

Deep Dive into Consumer Finance

Introduction: A Deep Dive into the Fair Credit Reporting Act

April 21, 2021

The Fair Credit Reporting Act (FCRA) impacts every aspect of a U.S. consumer’s life. Consumer reports are obtained by lenders, employers, landlords, and even utility companies, impacting the cost of credit and everyday services, as well as the ability to obtain employment or access housing.

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  • Media item: Aaron P. Kouhoupt
    Aaron P. Kouhoupt
    akouhoupt@mcglinchey.comMember

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